See latest naira to dollar exchange rate against US dollar

• The naira has depreciated against the United States dollar successful some the authoritative overseas speech markets
• In the achromatic market, the Nigerian currency besides fell against the US dollar and remains supra the N1,600 mark
• The Nigerian currency volition beryllium banking connected the Central Bank of Nigeria's involution for betterment successful the days ahead

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

The Naira reversed its summation to adjacent the week connected a debased aft different nonaccomplishment successful worth against the US dollar successful the authoritative and unofficial overseas speech markets.

Data from the Nigerian Foreign Exchange Market (NFEM) published by the Central Bank of Nigeria showed that the naira closed astatine N1,600.5/$ connected Friday, April 18.

New speech complaint against the dollar Photo credit: Bloomberg/contributor
Source: Getty Images

Friday's speech complaint is simply a flimsy depreciation erstwhile compared to the erstwhile day's closing complaint of N1,599/$ successful the authoritative market.

While the Nigerian currency appreciated slightly against the British Pound Sterling successful the authoritative marketplace connected Friday, trading astatine N2,120.23/£1 compared to the erstwhile day's complaint of N2,121.97/£1,

Naira besides gained N1 against the Euro, exchanging astatine N1,817/€1 compared to Thursday’s complaint of N1,818.17/€1.

Snapshot of naira speech rates

Here is simply a breakdown of the naira’s show against different overseas currencies successful the authoritative marketplace connected Friday, April 17, based connected information from the CBN.

• CFA: N2.77
• Yuan/renminbi: N219.16
• Danish krona: N243.39
• Euro: N1,817.69
• Yen: N11.25
• Riyal: N426.38
• South African rand: N85.19
• Swiss franc: N1,956.15
• Pounds sterling: N2,120.24

The naira appreciates successful the achromatic market Photo credit: Bloomberg/contributor
Source: Getty Images

Naira speech complaint astatine achromatic market

The naira improved against the US dollar astatine the parallel market, popularly called the achromatic market

Abdullahi a BDC trader told Legit.ng:

"Ahead of the nationalist holiday, determination was not overmuch activity, truthful the naira gained N10 against the dollar to merchantability astatine N1,610 from erstwhile complaint of N1620. While we bargain astatine N1,590."For euro and lb sterling, the selling rates are N1,785 /€1 and N2,110/£1 respectivily."

Goldman Sachs warns of further naira depreciation

According to Bloomberg, Goldman Sachs Group Inc. Economist, Andrew Matheny, during an interview, has projected that the naira volition endure from little lipid prices.

Matheny raised concerns implicit fiscal slippage for Africa’s largest crude lipid producer, fixed that the lipid accumulation presumption successful Nigeria’s 2025 fund is already optimistic.

FG declares unregistered forex platforms, others illegal

Earlier, Legit.ng reported that the recently assented Investments and Securities Act, 2025 (ISA 2025), introduces large reforms to Nigeria's concern landscape.

One of the cardinal changes is the prohibition of operating integer plus exchanges oregon online overseas speech trading platforms without ceremonial registration with the Securities and Exchange Commission (SEC).

As a effect of the caller law, immoderate existing online forex level oregon integer plus speech is considered amerciable unless it is duly registered with the SEC.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng